Brief: Granges Q3 Adjusted Operating Profit Up At SEK 203 Million

Granges AB

22/10/2020 06:38

Oct 22 (Reuters) - Granges AB  GRANG.ST :
    * GRÄNGES' INTERIM REPORT JANUARY-SEPTEMBER 2020
    * Q3 ADJUSTED OPERATING PROFIT SEK 203 MILLION VERSUS SEK
190
MILLION YEAR AGO
    * Q3 SALES VOLUME INCREASED BY 1.1 PER CENT TO 86.7 KTONNES
(85.8)
    * Q3 NET SALES DECREASED TO SEK 2,575 MILLION (2,998)
    * MARKET CONDITIONS IN Q3 WERE PARTICULARLY STRONG FOR HVAC
&
OTHER BUSINESS, WHERE A GENERALLY HIGH MARKET ACTIVITY WAS
FURTHER AMPLIFIED BY LONG AND WARM SUMMER SEASON
    * WE EXPERIENCED CLEAR SIGNS OF MARKET RECOVERY IN Q3 OF
2020
ALTHOUGH COVID-19 PANDEMIC CONTINUED TO IMPACT MARKETS IN WHICH
GRÄNGES OPERATES
    * EUROPEAN AUTOMOTIVE MARKET REMAINED CHALLENGING ALSO IN Q3
    * IT REMAINS DIFFICULT TO PROVIDE RELIABLE FORECASTING OF
UNDERLYING MARKET DEMAND
    * FOR Q4 GRÄNGES CURRENTLY EXPECTS AN ORGANIC INCREASE IN
SALES
VOLUME BY LOW SINGLE DIGITS COMPARED WITH LAST YEAR.

Source text for Eikon:  ID:nWkr435JP 
Further company coverage:  GRANG.ST 

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